Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Shree Cement Fined Rs 398 Cr By Anti-trust Regulator

Photo Credit :

Shree Cement Ltd has been fined $72 million (Rs 398 crore) by the Competition Commission of India (CCI), the anti-trust regulator said in a statement, making it the twelfth cement company to be fined in a crackdown on cartelisation in the industry.

Eleven cement makers were fined a combined $1.1 billion (Rs 5,600 crore ) by the CCI in June for collusion and price fixing, in the biggest penalty ever imposed by the increasingly assertive regulator.

Shree Cement has been fined Rs 398 crore, the equivalent of 50 per cent of its net profit for the financial years ending in 2010 and 2011, the CCI said in the statement.

(Reuters)


Tags assigned to this article:
corporate commodities cci shree cements